Goodyear quarterly profit rises 34 percent

DETROIT, July 31 (Reuters) - Goodyear Tire & Rubber Co (GT.N) posted a 34 percent rise in quarterly earnings Thursday on strength in its international operations that more than overcame pressure from the U.S. auto downturn in North America.

Net income rose to $75 million, or 31 cents per share, in the second quarter from $56 million, or 26 cents per share, a year earlier. Revenue rose 6.5 percent to $5.24 billion.

Excluding one-time items, Goodyear reported earnings of 66 cents per share from continuing operations. Analysts on average expected 60 cents, according to Reuters Estimates.

Goodyear, the largest U.S. tire maker, told investors in June that it would expand in key markets over the next several years and aims to have half of its tire production in lower-cost manufacturing countries by 2012.

Goodyear shares closed at $19.56 Wednesday on the New York Stock Exchange. The shares fell 31 percent in the second quarter and in mid-July the stock fell as low as $15.57, its lowest level since November 2006. (Reporting by David Bailey; editing by John Wallace)